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Ripple Price Technical Analysis – XRP/USD To Break $2.40?
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Ripple Price Technical Analysis – XRP/USD To Break $2.40?

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Ripple Price Technical Analysis XRP USD

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Key Highlights

  • Ripple price is moving higher once again and is currently above the $2.00 handle against the US Dollar.
  • There is a crucial bullish trend line forming with support at $2.1000 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might continue to move higher and it could even break the $2.40 resistance in the near term.

Ripple price is moving nicely higher against the US Dollar and Bitcoin. XRP/USD is gaining pace towards $2.40 and it may soon break it.

Ripple Price Trend

There was a slow and steady rise in Ripple price from the $1.9000 swing low against the US Dollar. The price was able to move back above the $2.00 hurdle and is currently placed nicely in the bullish zone. There was also a break above the 61.8% Fib retracement level of the last drop from the $2.50 high to $1.60 low. It has opened the doors for more gains and the price is likely to towards $2.50 in the near term.

On the downside, there is a crucial bullish trend line forming with support at $2.1000 on the hourly chart of the XRP/USD pair. The pair is currently testing the 23.6% Fib retracement level of the last wave from the $1.82 low to $2.39 high. However, there is a chance of it testing the $2.10 support area in the near term. The mentioned support is around the 50% Fib retracement level of the last wave from the $1.82 low to $2.39 high. Therefore, any major correction from the current levels toward $2.10 and $2.00 remains supported.

Ripple Price Technical Analysis XRP USD

On the upside, a break above the $2.40 would open the doors for an acceleration towards the $2.50 level.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed nicely above the 60 level.

Major Support Level – $2.1000

Major Resistance Level – $2.4000

 

Charts courtesy – Trading View, Kraken

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Comments 4

  1. Varun Kapoor says:
    8 years ago

    Hey Ayush,
    I have been following your articles for a week or so… seems to be quite accurate. Though I am not an expert trader but your articles help in taking right decision!
    Appreciate it man!

    Reply
  2. Syed Ziyad says:
    8 years ago

    Great Analysis, Highly appreciated 🙂 Thanks

    Reply
  3. Scott says:
    8 years ago

    If this was posted today, it’s already off, 2.40 was “tested” before today, and its floating around $2.90.

    Reply
  4. abubakar says:
    8 years ago

    Hi Ayush, thanks your analysis are really helping but now the price is towards $3, whats your expert opinion towards long term investment on ripple, and ripple price prediction. Thanks

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 4

  1. Varun Kapoor says:
    8 years ago

    Hey Ayush,
    I have been following your articles for a week or so… seems to be quite accurate. Though I am not an expert trader but your articles help in taking right decision!
    Appreciate it man!

    Reply
  2. Syed Ziyad says:
    8 years ago

    Great Analysis, Highly appreciated 🙂 Thanks

    Reply
  3. Scott says:
    8 years ago

    If this was posted today, it’s already off, 2.40 was “tested” before today, and its floating around $2.90.

    Reply
  4. abubakar says:
    8 years ago

    Hi Ayush, thanks your analysis are really helping but now the price is towards $3, whats your expert opinion towards long term investment on ripple, and ripple price prediction. Thanks

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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